August 2024: Recognising revenue, September bond renewals, Travel Fundamentals and more.
Travel Trade Consultancy | B Corp?
Supporting travel businesses through complex regulatory, financial and strategic challenges.
As an energetic summer of sporting contests comes to an end, the serious business of enjoying a relaxing getaway gets underway. So this month, we’ve got a selection of page-turners to keep your mind occupied. First, in our August Travel Fundamentals, we look at the latest travel industry trading announcements, where booking volumes remain strong, but some interesting things are happening on price. Plus, we’ve got some top tips for the upcoming September renewal, and we explain how we make hybrid working work for us.?
Finally, for the accounting purists, we look at the many and varied ways travel companies recognise revenue.?
As always, we hope you find it useful.?
Selling holidays involves complex arrangements and multiple parties. Due to various supply chain links and lengthy booking periods, there are many potential trigger points in the sales cycle when revenue could be classed as “earned”. This means there are different approaches to revenue recognition, which we explore in this post.
The summer season is well underway. Consumers are more confident than they’ve been in the last three years, and interest rates are finally starting to fall. ATOL-protected bookings continued to rise. But with so much extra capacity available, we see diverging pricing strategies. We look at all of this in our August round-up of travel sector data.
The September renewal deadline is on the horizon, and our insurance broker sister company, The Travel Vault, is helping clients through the ATOL, ABTA, and ABTOT bond renewal process. In this post, the team share some tips to ensure yours goes smoothly.
At TTC, The Travel Vault, and Stonecot Trustees, hybrid working has always been part of our routine. But it comes with challenges. Like, how to reap the benefits of flexibility without losing the collaborative spirit when we’re not in the office? Here’s how we’ve made it work for us.
If you loved this content, you can find a whole lot more over on our news & insights page.
About Travel Trade Consultancy
We’ve spent years helping travel companies do their best work. Some of the biggest travel businesses in the world trust us to solve their regulatory, strategic or financial problems.
We’ve helped travel start-ups launch, tour operators improve operations, and airlines get off the ground.
Plus, our 67 years spent working for the UK travel regulator, the Civil Aviation Authority, means we bring a unique perspective to the table along with our know-how.
If you think we might be able to help your travel business, reach out to us at [email protected] - we'd love to chat.